Listing Presented By

Wes Madden

Madden Real Estate Fairbanks Keller Williams

(907) 452-3000

Commercial - North Pole, AK

Great investment opportunity that is priced below July 2011 appraisal of $3.4 million. This 70 unit apartment complex on nearly 6.5 acres has had significant capital upgrades, low vacancy rates, and a consistent cap rate under the current ownership. Capital upgrades include three new Buderus boilers with Tekmar controller (2006), hot water maker (2009), fuel-saving Coal boiler (2009), engineered septic system and leach field (2003), new well system (2005), improved dryer ducting (2007), and exterior paint (2008). Staff includes an on-site manager, one maintenance personnel and a cleaner. All units are nicely maintained and the grounds are in superb condition. On-site maintenance shop makes for quick work of any needed repair. The on-site laundry room is clean and tidy and has 5 coin-operated washers and dryers for tenant needs. Rent roll shows outstanding occupancy rates with minimal, if any, vacancies. Financials and property analysis package available upon request with signed non-disclosure. Great opportunity for adding additional rental units or storage units on the south side of the parcel. Update: New Class C septic system complete with two leach fields and water treatment facility nearing completion (paid for by DOD).

3397 Bellwood Street, North Pole, AK 99705 MLS#: 16-10403

3397 Bellwood Street, North Pole, AK 99705 is an , Commercial in North Pole, Alaska for $2,940,000 with MLS#: 16-10403 and offered by Wes Madden of Madden Real Estate Fairbanks Keller Williams. To learn more about 3397 Bellwood Street, North Pole, AK 99705 contact Wes Madden for more information or to request a showing.